Asean

31

It looks as if the lure of profits has crept into the paradise of Bali. In south Bali, a developer wants to reclaim 1,730 acres and create artificial islets under a US$3bn luxury resort development that would cover half of Benoa Bay – an area that had conservation status until it was overturned in 2014 for so-called “revitalisation”.

This has spawned a ‘Tolak Reklamasi’ protest movement – and tens of thousands of angry Balinese have protested against the project.

One of the factors contributing to the persistent fiscal deficit in Malaysia has been the deliberate and gradual reduction of income tax rates over the years.

From a fairly progressive tax system, Malaysia has moved towards a regressive tax system. The government has trimmed the tax rates for the rich and super-rich over the years.

Singapore is now bucking the trend by raising income tax rates for high-earners by 2 per cent.

KEEP IN TOUCH

2,736FansLike
7,680FollowersFollow